Does GPS Influence Insurance Claims on Electronics?

GPS Laptop Theft

If you own a smart phone, ninety nine times out of a hundred there’s a GPS installed. If you own a tablet, it’s also very likely that the device features GPS functionality. The new numbers are in regarding insurance claims. Analysts and insurance companies are poring over them, looking at how those numbers will affect the cost of insuring those items. One of the most interesting statistics is that jewelry has overtaken electronics as the number one most “claimed” insurance item. Does GPS tracking affect insurance claims on electronics? The Hard Numbers on Insurance Claims Every year, Enservio releases itsRead More

GPS Distance Measuring Makes Insurance Discounts More Accurate

If you own a house in North Carolina, the cost of your homeowners’ insurance premium is affected by the proximity and quality of the nearest fire station. Houses within six driving miles of a station receive a discount on their insurance, and that discount increases if the station is particularly well equipped and staffed. In the past, insurance companies relied on brokers to provide information about each structure’s distance from the closest fire station, but they are now turning to GPS distance measuring to get more accurate information. North Carolina’s insurance providers use a scale from 1 (best) to 10Read More

Unique Tracking Program Gives Insurance Discounts

GPS tracking devices might soon be lowering your car insurance premiums. A unique new program gives a “pay-as-you-drive” spin on insurance. This new program involves a GPS tracking device being installed on the vehicle. The tracking device enables the insurance company to monitor the vehicle’s every move, giving them a pretty clear picture of the individual’s driving habits. This information can then be used by the insurance provider to determine a fair insurance premium. Good or Bad? Many people are uncomfortable with their insurance company have such detailed information about their driving habits and travels, viewing it as an invasionRead More

Government: GPS Vehicle Tracking May Soon Be Mandatory

You’ve probably seen insurance advertisements that claim you can lower your monthly rate by installing a GPS tracker. Lowering your insurance rate is always a good thing, but at what cost? USA Today recently reported that some insurance companies may be selling this information to the U.S. Government. Further, according to the article, the government is considering making vehicle tracking mandatory for all U.S. drivers. Why would the government be interested in your driving habits? The answer is two-fold. First, tracking your driving habits means that sending out violation tickets will become even easier for law enforcement.Second, this evidence canRead More

GPS Tracking and Lower Insurance Rates: Friend or Fraud?

You may have heard that having a GPS tracking device in your car can help lower your insurance rates, but it is not as simple as just having the location system in place. Since GPS units can track speeding, hard braking, heavy accelerating, and driving frequency, insurance companies can determine exactly how safe they think you are when it comes to driving and then set your rates accordingly. For example, if you live in a suburban neighborhood but work in the heart of the city, your time spent in rush-hour traffic could be a deterring factor in the eyes ofRead More

State Farm Offers to Help New Drivers

When teaching me how to drive as a teenager, I remember my father leaning over next to me and saying, “it is not you I’m worried about. It’s those people.” You know the ones. Drivers who careen through a red light while it’s barely pink, take the on ramp going 70, or pass through four lanes of dense highway traffic without a turn signal. For drivers all over the country, the newest iPhone app, which rates the driving of its owner using GPS tracking, motivates feelings of relief and hope for a safer driving tomorrow. Sponsored by State Farm Insurance,Read More

Use GPS Tracking to Lower Insurance Premiums?

Are you a safe driver? Do you think you’re paying higher for insurance than you should? For drivers who believe they are overpaying and would like to be able to prove that they are safer drivers, Progressive Auto Insurance is beginning a program that will allow drivers to install a GPS tracking device in their cars. The GPS tracking device will track how hard they brake as well as what percentage of their driving is day driving compared to what percentage is nighttime driving, according to USA today. Drivers who opt into the program, called Snapshot, can save, on average,Read More

GPS Saves Money on Car Insurance

Saving money is a big concern these days. While people are clipping coupons and shopping at garage sales, they may be neglecting a much more substantial savings. An investment in GPS tracking can pay off in insurance savings for the consumer (whether an individual or a company). Insurance companies give discounts for such things as low mileage, anti-theft devices, teenage tracking and safe driving. Some insurance companies offer discounts for drivers who drive less than a certain number of miles each year. However, many claim this discount only to violate the terms of it. Several large insurance companies now offerRead More

Car Insurance Companies Offering Discounts for Tracking Privileges

By DONNA SANTI / guest columnist Would you consent to a vehicle tracking system that is monitored by your insurance company, if it would lower your rates? Hundreds of thousands of clients currently signed up for AAA and Progressive auto insurance might soon have the choice. The two companies are among the first to launch unique on-board driving data collection programs. Little boxes, about the size of a box of stick matches, plug into the vehicle’s electrical and diagnostic centers and they record vehicle speed, time of day, brakes applications and the number of miles logged. Representatives think the programRead More

GPS Tracking and Insurance

By Greg Bartlett Most people who buy GPS trackers for their property and assets will often consider the cost a bit of personal insurance. The technology can certainly help protect or recover items in case of loss or theft. Investment in a GPS tracker can seem small in comparison to the cost of losing a vehicle or other valuable property. Yet what if purchasing and installing GPS tracking technology could also save you money on your monthly insurance premiums? Fact is, it can. Insurance companies recognize GPS trackers as simple yet effective way of safeguarding all sorts of property, soRead More